Investor Presentaiton

Manager Overview (Stabilisation Fund) Fund Manager Lead Portfolio Manager Region of Domicile Date of Fund Inception 2017 Returns NSIA's NAV $(min) NSIA Inception UBS (Passive 1-3 Year US Treasuries) Benjamin Kaden Zürich, Switzerland 2-Feb-2012 0.79% 13-Sep-2013 81.2 Smith Graham and Co (Enhanced Cash) Mark Dube Houston, US 2-Feb-2012 0.1% 20.0 IR+M (1-5 Year Rob Lund Boston, US 2-Feb-2012 0.1% A or Better) 24.0 Nigeria Sovereign Investment Authority 11-Dec-2017 11-Dec-2017 Fund Strategy Fund that holds 1-3 year Treasuries benchmarked against the 1-3 Year Treasury index. UBS manages its passive fixed income products with the goal of minimizing tracking error and transaction costs. Smith Graham runs the enhanced cash management product, which is 100% made up of asset backed securities. The strategy focuses on short-dated AAA rated securities with the aim of optimizing income, maintaining sufficient liquidity and capital preservation. The strategy is a conservative, high quality, short duration credit strategy that relies on the Firm's value- oriented, bottom up investment approach. The portfolio is comprised primarily of credit and asset backed securities and has a marginal exposure to government instruments and municipals. IRM Fund Logo UBS INCOME RESEARCH MANAGEMENT 57

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